Purdy Homes News

Happy 2008!!!

This year starts with some anxiety in the Real Estate market. The front page screams "foreclosure" every time we open the newspaper

There is no question that our market has stalled and prices are rolling back to pre-2005 levels. The good news is that our market is active. There are Buyers out there looking to buy and lenders that are willing to lend. The potential raise in the conforming rate loan limit from $417,000 to as high as $740,000 is great news! That, combined with our current low interest rates, keeps our market moving, despite all the negative news out there.

As with any slow market, the inventory of available homes has increased giving the Buyers out there plenty of choices. The sense of urgency to purchase now is gone. Buyers today are waiting for that perfect house that has location, price and condition. Today's Buyers are finicky. Sellers should think twice before countering a strong Buyer.

Our advice is to hold tight. If you have to sell, get your home on the market as soon as possible and price it to sell today. Many times pricing your home aggressively will bring multiple offers and a higher price in less time. This is a great time to be a first time buyer. Start enjoying the benefits of homeownership as soon as possible. Just keep in mind the lessons so many are facing today…. buy within your financial limits.

Your Best Interest is Our Highest Priority!

Purdy Homes